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The novel coronavirus (nCovid) has infiltrated in every business sector in India and the same goes well with the financial sectors or services. As soon as the World Health Organization has declared this outbreak a pandemic, the investors have started pulling out their money from the markets. The stock markets have crashed utterly through the world and central banks made off-cycle rate cuts and injected liquidity so that the economy can move in this steep situation.
This pandemic has motivated businesses to change their behavior and many banking and non-banking institutions are adopting digital banking as a consequence. Many customers are opting for digital banking services even those who once restricted online banking to lead a hassle-free life. The banking institutions, as well as customers, have realized how convenient it is to bank digitally and by doing this, they can easily avoid physical contact and human touching. Since the trending of digital banking is increasing hurriedly, in the aftermath of the Covid-19 crisis, it is expecting to see a significant acceleration of digital banking among the financial services. Here, we are mentioning some of the upcoming trends in the financial sector.
Covid-19 has created unfathomable damages in every business including the financial sector, still, in the future to intensify their growth, banks should accelerate their digital capabilities to handle the situation. The digital banking landscape will be completely different from the traditional one that preceded it. But these key digital trends will significantly reshape and uplift the growth of the financial sector after this pandemic.
Jaidev Chatanat is a thought leader in the space of marketing intelligence, customer service and digital transformation. He has been an advocate for applying the right digital transformative strategies and techniques for many decades for fortune 500 companies.
He is reachable for consultation on firstname.lastname@example.org